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The impact of free cash flow and dividend policy on stock abnormal returns.

Author

Chong, Chin Hui.

Sim, Eng Khai.

Teo, Chin Chye.

Date of Issue

1997

School

College of Business (Nanyang Business School)

Abstract

Agency costs arise when both parties to a contract, under which there is delegation of authority for decision-making from the principal to the agent performing some service, are both utility-maximizers. Monitoring expenditures are incurred by the principal and bonding expenditures by the agent.